Transocean nets contracts for rigs in GOM, North Sea, Suriname
Transocean announced contract awards or extensions for five of its drilling rigs. Together, the fixtures represent approximately $488 million of firm backlog.
Deepwater Invictus, an ultradeepwater drillship, was awarded a new three-well contract with an estimated 100-day duration in the US Gulf of Mexico with an independent operator. The contract contributes an estimated $43 million in backlog and is expected to commence in direct continuation of the rig’s current program.
Transocean Barents, a harsh-environment semisubmersible, was awarded a new one-well contract with an estimated 110-day duration in the UK North Sea with a major operator. The contract contributes an estimated $34 million in backlog and is expected to commence in the Q1 2023.
Additionally, Harbour Energy exercised the third option on its UK North Sea contract with Paul B. Loyd, Jr., a harsh-environment semisubmersible, for eight P&A wells, adding an estimated $48 million in backlog. The additional term is expected to last 275 days and extends the contract to Q3 2024.
In Norway, certain previously disclosed options under the Transocean Norge contract with Wintershall DEA and OMV have been added to backlog. The incremental term is expected to last 773 days and contribute an estimated $331 million to backlog.
Finally, TotalEnergies exercised a one-well option on its contract with the Development Driller III, an ultra-deepwater semisubmersible, working in Suriname. The incremental well is expected to last 90 days and contribute an estimated $32 million in backlog.